USA Mega

Texas Powerball Jackpot Annuity Payout Schedule for Dec 14, 2011

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $77,700,000 for a ticket purchased in Texas, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Texas

Drawing Date:Wed, Dec 14, 2011
Jackpot:$77,700,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,385,399$470,785$0$914,613
2$1,440,815$491,289$0$949,525
3$1,498,447$512,613$0$985,834
4$1,558,385$534,790$0$1,023,595
5$1,620,721$557,854$0$1,062,866
6$1,685,549$581,841$0$1,103,708
7$1,752,971$606,787$0$1,146,184
8$1,823,090$632,731$0$1,190,359
9$1,896,014$659,713$0$1,236,301
10$1,971,854$687,774$0$1,284,080
11$2,050,729$716,957$0$1,333,771
12$2,132,758$747,308$0$1,385,450
13$2,218,068$778,873$0$1,439,195
14$2,306,791$811,700$0$1,495,090
15$2,399,062$845,841$0$1,553,222
16$2,495,025$881,347$0$1,613,678
17$2,594,826$918,273$0$1,676,552
18$2,698,619$956,677$0$1,741,942
19$2,806,564$996,616$0$1,809,947
20$2,918,826$1,038,153$0$1,880,673
21$3,035,579$1,081,352$0$1,954,227
22$3,157,002$1,126,279$0$2,030,724
23$3,283,282$1,173,002$0$2,110,280
24$3,414,614$1,221,595$0$2,193,019
25$3,551,198$1,272,131$0$2,279,067
26$3,693,246$1,324,689$0$2,368,557
27$3,840,976$1,379,349$0$2,461,627
28$3,994,615$1,436,195$0$2,558,420
29$4,154,400$1,495,316$0$2,659,084
30$4,320,576$1,556,801$0$2,763,775
Total$77,700,000$27,494,631$0$50,205,365

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.